Horowitz: With so many Americans hurting, Trump must cancel the H-1B visa lottery

Nothing demonstrates the darkness of the liberal agenda in the shutting down of America’s economy than the push for more foreign labor. If they are saying we need to spend trillions of dollars to help hurting Americans who are out of jobs, you’d think it would be a no-brainer to cancel foreign worker visas, not talk about increasing them.

This week, President Trump has an opportunity to draw a bold contrast on rebuilding the country with American labor. The H-1B visa program and its lawless sister program, Optional Practical Training (OPT) work permits, have gerrymandered Americans out of entry-level white-collar jobs – from programming and engineering to pharmacy and nursing. They are also responsible for creating a brain gain for countries like China at our expense, leading to the offshoring that is exacerbating our crisis in the medical supply chain. Now is the time for Trump to finally end these visas, and next week he has the perfect mechanism to do so.

Every year, the government holds an H-1B lottery on April 1, in which USCIS randomly selects 85,000 foreign visa applicants to take basic white-collar jobs from Americans. Along with those visa winners are their spouses, who are given H-4 visas. Through a lawless administrative loophole, every year roughly 50,000 of the spouses wind up also receiving employment authorization documents enabling them to compete with American workers.

With everything being canceled for Americans, isn’t it prudent to cancel the lottery to bring in more foreign workers? Even before the crisis, 71 percent of jobs in Silicon Valley went to foreign workers, and 74% of American STEM graduates overall failed to land jobs in STEM fields. “Let’s be clear – these workers were never needed, and the law has never required employers asking for white-collar contract workers to show that they couldn’t find U.S. workers,” said Jessica Vaughan of the Center for Immigration Studies in an interview with CR. “Most of these workers are brought in because they are cheaper, not because of a labor shortage or skills gap. They have already directly displaced hundreds of thousands of U.S. workers over the years.”

Vaughan noted that now is the perfect time to end the racket. “Now, the case for them is even thinner, with forecasts of double-digit unemployment rates due to the response to the pandemic,” said Vaughan, who has been studying this issue for decades. “How can anyone argue with a straight face that we need [foreign] workers of any kind right now, with so many American businesses shutting down?”

Shockingly, page 64 of Nancy Pelosi’s 1,100-page pandemic panic bill contains a provision extending H-1B work permits for 100,000 foreign workers for three years. You read that right. The very same people who are now going overboard and mandating unconstitutional shutdowns of all businesses, even those that don’t engender public gatherings, are now replacing us with foreign workers. It’s rooted in the same perverted ideology as placing Americans under house arrest, but releasing criminals from prison.

The combination of these actions taken by the Left demonstrates that this is not being done out of prudence to contain the spread of an epidemic, but as a means of putting law-abiding American taxpayers and workers last at every turn.

Trump can end this racket by simply canceling the lottery this year and preventing the importation of 85,000 new foreign workers at a time when every job will matter to Americans. Moreover, he should cancel the unauthorized OPT program, which allows hundreds of thousands of foreign students who graduate in American universities to take American jobs without costing employers payroll taxes.

The need to further incentivize companies to hire Americans comes out of news reported by investigative journalist Paul Sperry last week that Wells Fargo and Bank of America are facing severe worker shortages. Why? Because India shut down its offices, and Indian workers don’t have the telecommuting capabilities that most Americans do. This problem will spread, because India just announced a nationwide lockdown for three weeks. Now would be a perfect time to cut off the foreign worker visa-to-outsourcing pipeline and rebuild these companies with American workers – and protect our supply chains to boot.

At the same time, the politicians are pushing for more H-2B low-skilled visas as well. DHS Secretary Chad Wolf announced a 35,000 expansion of H-2B visas on March 5, pursuant to unlimited authorization DHS was granted by Congress to raise the caps. But it’s not too late to pull them back. Republicans must shut off these visas in whatever bill they wind up passing the Senate.

One thing is clear: liberals can’t have it both ways. They can’t push endless redistribution of wealth during a potential great depression under the guise of helping workers and then bring in more foreign workers to take jobs. It’s time for Trump to call them out on it and use his authority to end the sellout of the American worker once and for all.

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25th Anniversary of Europe Abolishing Borders Will be Marked With Closed Borders

The 25th anniversary of the open-border Schengen agreement is set to take place this year as most European Union member states have closed their borders due to the Wuhan coronavirus.

The Schengen open borders agreement was signed by Germany, France, Belgium, the Netherlands, Luxembourg, Spain, and Portugal on the 26th of March, 1995, and was long touted as a success of the European Union. But few are celebrating open borders, as coronavirus spreads throughout Europe, as Austrian newspaper Kronen Zeitung notes in their coverage of the virus in central Europe.

The agreement expanded to more countries after 1995, including Greece in 2000 and Denmark, Sweden, and Finland in 2001. The agreement now encompasses 26 countries, some of which, such as Switzerland and Iceland, are not members of the European Union.

The Wuhan coronavirus pandemic is not the first time the Schengen agreement has seen major challenges.

In 2015 during the height of the migrant crisis and the 20th anniversary year of Schengen, many countries imposed border checks such as Denmark, which continued to impose strict border policies, citing dangers from Swedish gang crime and terror threats as recently as last year.

Since the arrival of coronavirus in Italy and then in other European Union countries like Germany, France, Spain, and Austria, 15 Schengen members have introduced strict border controls to help stop the spread of the virus.

According to the website Schengenvisainfo, an independent website for information on Schengen zone visas, Belgium, Iceland, Sweden, Liechtenstein, and Luxembourg are the only Schengen members not to have closed their borders so far.

Several of the countries that have closed their borders have also failed to inform the European Commission of their move to secure their borders, a move that is contrary to the Schengen Border Code.

The European Commission itself stated in late February that it was not considering the suspension of Schengen when Italy led infections with 322 confirmed cases.

Figures released Monday revealed Italy to now have nearly 64,000 cases and 6,077 deaths, nearly double the number of fatal cases reported by China where the outbreak began.

Follow Chris Tomlinson on Twitter at @TomlinsonCJ or email at ctomlinson(at)breitbart.com

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87-Year-Old Marine With Multiple Health Conditions Who Survived Coronavirus: ‘The Marine Corps Trains Us To Deal With Adversity’

An 87-year-old former Marine who spent two tours in Vietnam and has multiple health conditions survived an epic battle with coronavirus, asserting, “The Marine Corps trains us to deal with adversity; they teach us to adapt, overcome, and continue the mission.” He added another reason for his survival: “And finally, the grace of God. That’s what I have here.”

Franklin Eller told CBS News, “I’m feeling great. And I was really fortunate to find myself laying here at the Mayaguez Medical Center.  As you may know, I was evacuated from a ship; we were on a cruise in the Caribbean. And I was feeling pretty lousy about six days into the 14-day cruise. So I kinda let it go, and it kept getting worse and worse and I had trouble breathing and I couldn’t walk very far. So finally on the third day my wife convinced me to go down to the medical center. I checked in there; they saw I was in pretty bad shape, they did all the tests they could do; they didn’t have any of the virus tests …”

Eller said he saw the X-rays taken of his lungs on the cruise ship. He recalled, “Both lungs were practically black, and filled with infection.… I have emphysema; I have heart disease; I have a leaky heart valve in one lung; I have peripheral neuropathy, and I have an irregular heartbeat.”

Dr. Monica Egozcue, the ICU director at the hospital, stated, “I have to say that I saw his chest X-ray from the cruise, and from that moment I knew that we were not dealing with a common pneumonia process. So that’s why we treated this patient from day one as a possible COVID-19 patient.” She continued, “When a patient has pneumonia, the findings on X-rays are called infiltrates. So his infiltrates on the chest X-ray were more central, what we call perihilar. That’s not usual in pneumonia. Pneumonia usually affects a certain part of the lungs either the upper zone or the lower one. Infiltrates were located in the central part of the lungs, which is not common in the pneumonia process. So at that moment we had high suspicion plus his white blood cells were elevated, however, he had lymphodemia, which is found in these types of patients … he was treated always like a COVID-19 case.

Eller said he had been subsequently tested twice and was found negative, a prerequisite for being released from the hospital

He concluded, “I really owe my recovery to four things; first of all, the Marine Corps trains us to deal with adversity; they teach us to adapt, overcome, and continue the mission. That’s what I’ve tried to do; every time I’ve encountered an adverse condition in my life and with two tours in Vietnam plus other national emergencies that the Marines responded to, I feel that I can speak on the subject of adversity. The second one is my wife and my family back in San Diego in Humboldt County, California; their love and support. Of course, we could not have done it without the hospital’s outstanding efforts. And finally, the grace of God. That’s what I have here.”

via The Daily Wire

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Nolte: Media Elite Are Totally Immune from Human Devastation of Economic Shutdown

On top of the legion of coronavirus lies the establishment media have deliberately spread, another massive disconnect is that our media elite are entirely immune from the economic devastation that comes with shutting down our economy.

This is a problem.

This is a big problem.

And as President Trump begins to talk about reopening the economy, it is going to become an even bigger problem.

Let me tell you a dirty, little secret about those of us who work in the media… The Chinese Virus is an AMAZING story. No one is taking death or sickness lightly. I’m certainly not, especially with a wife I adore right in the danger zone. I’m holed up; I’m disinfecting the mail with Clorox wipes, my hands are chapped from washing… Nevertheless…

This is a helluva story.

We’re living through a disaster movie. Turn on your TV and it’s all there… Death counts! Contagion counts! The president is on TV every day! Hole up! Stay home! Unemployment could hit 30 percent! A second Great Depression! Tell us how bad things will get, Mr. Expert! Drama! Drama! Drama!

And best of all — and this is important — beneath all the hysteria, beneath all the panic, beneath all the drama, we’re pretty sure we’re going to be okay, because according to the worst predictions, 99 out of 100 of us will survive.

And then there’s the other dirty, little secret…

Financially we’re not being hurt by this. Quite the opposite, in fact. We work in the business of news, and business is good. Business is as good as it’s ever going to get, and … most of us work from home. Or we work in a hermetically sealed radio or TV studio.

How great is that!

Our beautiful and privileged lives are in no way negatively affected by the coronavirus. We get to live and work through an exciting disaster movie knowing we’re going to survive, our jobs are secure, and our employers are thriving because clickety-click-click-click!

And that is a huge, huge problem when it comes to covering this story.

How can those of us who are so privileged even begin to relate to the 99.99 percent of us who are not?

Do you have any idea how easy it is for me to say, “But if this economic shutdown saves just one life!”

It’s insanely easy.

Because I’m living through an exciting disaster movie without my economic life being disrupted, that  gives me the unique privilege of being able to sound virtuous without the target of my virtue having a negative effect on my livelihood.

It’s even a bit selfish… As I said, this is one helluva story.

But there is another story… Another disaster movie… The one about an unstoppable financial meteor that’s about to hit 99.99 percent of our country.

The government shut down Margaret’s company.

Margaret can’t pay her invoices to Jimmy’s company.

Jimmy’s company can’t pay Jimmy.

Jimmy can’t pay his landlord.

Jimmy’s landlord can’t pay his mortgage.

Jimmy and his landlord are now sitting at home totally helpless as they watch their bank accounts and 401Ks melt away along with the supplies necessary to feed their wife and children.

And ’round and ’round we go.

So please allow me to put this starkly as I can…

No, the government is not asking us to just sit at home and watch Netflix.

That’s a bullshit media talking point from a bullshit media living through an exciting disaster movie.

What the government is really doing is this…

Asking us to sit at home as our bank accounts dwindle, as our small businesses barrel towards bankruptcy, as the company that employs us teeters on the edge of closing down.

And sitting at home helpless as everything falls apart is agonizing… Is a recipe for despair… And despair means stress, and stress is — for the those of you who thump your chest over your fidelity to science — a killer.

The privileged media living through their exciting disaster movie don’t want to talk about the economic death toll of shutting down the economy — suicide; drug overdoses; crime; murders driven by despair, desperation, and fear; spousal abuse.

Let’s just start here…

In 2018, 48,344 Americans committed suicide.

During the first four years of the Great Depression, the suicide rate jumped by almost 25 percent.

There’s another death toll in this story, another disaster movie… But just as our useless and corrupt media are immune from illegal aliens stealing other people’s jobs, just as our useless and corrupt media cannot relate to weather disasters until those disasters happen in New York or Washington, DC, they are immunized from this death toll…

That’s a problem.

I’m not saying I know the answer to the dilemma between the coronavirus meteor and the economic meteor. But I am at least willing to acknowledge the latter exists, and to not sanctimoniously scream YOU DON’T CARE ABOUT DEAD PEOPLE to those who dare to discuss that other disaster movie.

 

Follow John Nolte on Twitter @NolteNC. Follow his Facebook Page here.

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Pigs At The Trough: Amtrak Is Latest Company Begging For Bailout As Ridership Plunges 92%

Pigs At The Trough: Amtrak Is Latest Company Begging For Bailout As Ridership Plunges 92%

Welcome to the latest episode of our ongoing "Pigs At The Trough" series, documenting how companies who have taken zero financial precautions over the last decade are now rushing to Uncle Sam and the American taxpayer for their "do-overs". 

Next up on the list is Amtrak, who is now apparently banking on a $1 billion bailout, according to the Wall Street Journal

Like other major businesses, everybody staying home has had a profoundly and disproportionately negative affect on Amtrak, which has seen its ridership plummet. And it apparently comes just before the railroad was going to eek out a profit for the first time in its 50 year history.  

That’s a shame. Perhaps the company should have focused on turning a profit at some point over the last 5 decades a little quicker?

But we digress. Bookings on the company’s Acela have fallen 99% through the end of last week as total ridership has fallen 92% across the national railroad system. 

CEO Richard Anderson said: “There’s really no one riding the Acela. There’s no point operating empty trains.”

High speed service between Boston and Washington has been shut down, along with 40% of the railroad’s capacity on the Northeast Corridor. The company is running just 14 trains per day on the Northeast Corridor. 

Anderson said on Friday the company needs $1 billion in addition to its annual operating subsidy and that the company is now projecting an $840 million loss for the year ending September 30. That loss will come despite expense reductions of $110 million to $150 million.

Those expense cuts include corporate matching of 401(k) contributions being suspended and the top three bands of management taking pay cuts of 20% or more. Workers are also being asked to take voluntary unpaid leave, as layoffs inevitably loom.

Anderson said: “It’s as dramatic a falloff as you’d see in any business. So we are working very hard to make up $1 billion in cash right now.”

Mark Kenny, the general chairman of the union representing Amtrak engineers said: “We are still a long way from getting back to any degree of normalcy, and things are very likely to deteriorate further before getting better.” 

The company is reportedly working with congress to deal with an ”unprecedented reduction in demand and ridership, our ongoing service adjustments and our future financial needs so that we come out of this crisis ready to continue serving the nation.”

A bill making its way through congress right now includes $1.018 billion for Amtrak.

Amtrak spokeswoman Christina Leeds said: “Additionally, it is vital that we continue to advance capital projects that are critical to the safety and long-term operation of passenger rail.”

Meanwhile, DJ Stadtler, the railroad’s chief administrative officer told employees last week: “Amtrak doesn’t have the funding to cover pay and benefits for almost 19,000 employees for an indefinite period of time, during a crisis that is going to cause the company to lose hundreds of millions of dollars. It doesn’t feel good to say that, but this is the hard reality that we and most other employers are facing now. “


Tyler Durden

Tue, 03/24/2020 – 14:20

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WHO’s COVID Fatality Rate May Be 27 Times Too High, According to Prof’s Analysis of Cruise Ship Data

What if we’re wrong about COVID-19?

We’ve been wrong before in underestimating it. If we’re wrong in overestimating it, would that make any difference?

New York Gov. Andrew Cuomo has generally acquitted himself well during the outbreak, but this one line of explanation for his virtual shutdown of his state drew a bit of attention: “This is about saving lives and if everything we do saves just one life, I’ll be happy.”

If this was all about saving just one life, would that justify tanking the stock market? Costing millions of jobs? Bankrupting scores of businesses?

We know, of course, this isn’t about one life.

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However, we don’t know how many lives we’re saving.

We also don’t know what the fatality rate of COVID-19 is yet — and one Stanford University School of Medicine professor says we might have that last part massively wrong.

In a piece published last week in STAT, John P.A. Ioannidis, a professor of medicine and of epidemiology and population health, argued that data collected from the Diamond Princess cruise ship could mean the World Health Organization’s predicted COVID-19 fatality rate is way off base.

“The current coronavirus disease, Covid-19, has been called a once-in-a-century pandemic. But it may also be a once-in-a-century evidence fiasco,” he wrote.

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He noted that short-term lockdown measures might be tolerable to people, but that long-term ones would be difficult to swallow. This is especially true when you consider the fact that there’s a debate over how reliable the data we have actually is.

“The data collected so far on how many people are infected and how the epidemic is evolving are utterly unreliable. Given the limited testing to date, some deaths and probably the vast majority of infections due to SARS-CoV-2 are being missed,” Ioannidis wrote.

“We don’t know if we are failing to capture infections by a factor of three or 300. Three months after the outbreak emerged, most countries, including the U.S., lack the ability to test a large number of people and no countries have reliable data on the prevalence of the virus in a representative random sample of the general population.”

“This evidence fiasco creates tremendous uncertainty about the risk of dying from Covid-19. Reported case fatality rates, like the official 3.4% rate from the World Health Organization, cause horror — and are meaningless. Patients who have been tested for SARS-CoV-2 are disproportionately those with severe symptoms and bad outcomes. As most health systems have limited testing capacity, selection bias may even worsen in the near future.”

That 3.4 percent figure comes from remarks by the WHO’s director-general on March 3, when he said the coronavirus “causes more severe disease than seasonal influenza.

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“While many people globally have built up immunity to seasonal flu strains, COVID-19 is a new virus to which no one has immunity. That means more people are susceptible to infection, and some will suffer severe disease,” Tedros Adhanom Ghebreyesus said.

“Globally, about 3.4 percent of reported COVID-19 cases have died. By comparison, seasonal flu generally kills far fewer than 1 percent of those infected.”

However, Ioannidis pointed out that “[t]he one situation where an entire, closed population was tested was the Diamond Princess cruise ship and its quarantine passengers.

“The case fatality rate there was 1.0%, but this was a largely elderly population, in which the death rate from Covid-19 is much higher,” he added.

“Projecting the Diamond Princess mortality rate onto the age structure of the U.S. population, the death rate among people infected with Covid-19 would be 0.125%. But since this estimate is based on extremely thin data — there were just seven deaths among the 700 infected passengers and crew — the real death rate could stretch from five times lower (0.025%) to five times higher (0.625%),” Ioannidis continued.

“It is also possible that some of the passengers who were infected might die later, and that tourists may have different frequencies of chronic diseases — a risk factor for worse outcomes with SARS-CoV-2 infection — than the general population. Adding these extra sources of uncertainty, reasonable estimates for the case fatality ratio in the general U.S. population vary from 0.05% to 1%.”

That’s obviously a huge range — and it’s not close to 3.4 percent.

Now, granted, the Diamond Princess was a unique situation. It’s impossible to extrapolate that to an entire population.

However, given how unreliable much of the data is when it comes to COVID-19, the Diamond Princess data is not something we should ignore.

Now, none of this is to say you shouldn’t take the coronavirus seriously. You should.

If images of spring breakers partying it up on the Floridian littoral weren’t enough to raise your blood pressure, you were either one of these misguided youths or you’ve simply lost all faith in humanity at this point.

Stay inside as much as possible. Wash your hands. Pay attention to the authorities.

However, if you’re one of the people for whom the exclamation “science!” is a frequent peroration, you should probably be more concerned about whether the global death rate for COVID-19 is closest to Italy’s (more than 9 percent as of Tuesday, according to Johns Hopkins University), the United States’ (under 1 percent) or the Diamond Princess’.

And yet, these people seem to take their cues from the media in terms of dealing with the coronavirus. Ioannidis’ analysis should be great news for the media — and yet, I haven’t seen him discussing it on CNN.

These numbers have huge implications.

After all, given the Diamond Princess data, the mortality rate that the WHO predicted could be 27 times too high. Even going five times higher than Ioannidis’ 0.125 percent figure only gives us 0.625 percent, which would make the WHO’s predictions five times too high.

This doesn’t mean the WHO isn’t right, but it’s an encouraging piece of news nonetheless.

Getting this right is doubly important when you realize the interruption to daily life that the coronavirus is causing.

“One can only hope that, much like in 1918, life will continue,” Ioannidis wrote.

“Conversely, with lockdowns of months, if not years, life largely stops, short-term and long-term consequences are entirely unknown, and billions, not just millions, of lives may be eventually at stake.

“If we decide to jump off the cliff, we need some data to inform us about the rationale of such an action and the chances of landing somewhere safe,” he concluded.

One only hopes we get it.

We can’t all afford to be Gov. Cuomos forever, after all.

We are committed to truth and accuracy in all of our journalism. Read our editorial standards.

via The Western Journal

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Sen. Cruz Shreds Dems for Exploiting Coronavirus Emergency Relief Bill To Push Partisan Agenda

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Sen. Cruz Shreds Dems for Exploiting Coronavirus Emergency Relief Bill To Push Partisan Agenda

U.S. Sen. Ted Cruz speaks to reporters in a file photo from January.Mandel Ngan / AFP via Getty ImagesU.S. Sen. Ted Cruz, pictured in a file photo from January, blasted Senate Democrats on Monday for filling up a bill intended for coronavirus relief with provisions that pushed their own political agenda. (Mandel Ngan / AFP via Getty Images)

The Democrats never miss a chance at partisan hackery, even at the expense of the American people.

Luckily, Republican leaders like Texas Sen. Ted Cruz aren’t going to let this manipulation go unchecked.

In a shocking move on Sunday, Democrats in the Senate decided to block the coronavirus relief package despite bipartisan support for the bill leading up to the procedural vote.

In a Senate speech on Monday, Cruz passionately ripped into his left-wing colleagues for stuffing the measure full of irrelevant items.

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“What are they pushing for? Changing the emissions standards on airplanes,” Cruz said.

“Mr. President, what the hell do the emissions standards on airplanes have to do with thousands of people dying and millions of people out of work in the coronavirus epidemic?”

He went on to excoriate the Democrats’ other demands.

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“The Democrats are pushing wind and solar tax credits. Mr. President what in the hell does a windmill have to do with this crisis?”

The answer is nothing. Absolutely nothing.

DNC Senators merely sought to leverage the suffering of the American people to push for their half-baked “Green New Deal” policies.

It isn’t only environmental policies that Nancy Pelosi and her colleagues are now pushing for.

The Daily Caller reported that Pelosi had previously attempted to include abortion funding into the bill as well.

RELATED: Ted Cruz Backs Trump Up with Blistering Shot at Sotomayor: ‘An Arsonist Complaining About’ Fire Trucks

If the Democrats actually took this epidemic seriously, they would simply pass the bill to help the American people as quickly as possible.

After that, they could negotiate for additional policies.

Instead, they are going to use the American people’s physical and economic suffering as tools at the bargaining table.

Cruz’s comments are a much-needed ray of truth amidst the Democrats’ constant lies and obfuscation.

His remarks on their intentions could not have been more accurate.

“The famed quote from Rahm Emanuel, President Obama’s chief of staff, ‘never let a good crisis go to waste,’” Cruz said. “Sadly, we’re seeing the embodiment of that cynical approach right now.”

We are committed to truth and accuracy in all of our journalism. Read our editorial standards.

via The Western Journal

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Man with COVID Who Said Goodbye to Family Says Malaria Drug Had Effect in 1 Hour, Saved His Life

A Florida man says he took a chance at the brink of death and it saved his life.

After being diagnosed with pneumonia and COVID-19, Rio Giardinieri, a 52-year-old manufacturing executive, said he went through living hell, according to KTTV.

Giardinieri said the illness threw his body into a tailspin with nine days of searing back pain. For a week, he said he was isolated in the ICU, where, though placed on oxygen, he could still hardly breathe.

Last Friday night, he said found himself on his deathbed and out of options when doctors gave him the grim news that there was nothing more they could do.

Giardinieri set to calling friends and family, telling them he would not make it. Hardest of all, he said his goodbyes to his wife and their three children.

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And then a friend forwarded him an article about an old and well-known anti-malarial drug — hydroxychloroquine — that saw promising results in a study in France.

Giardinieri said he then contacted an infectious disease doctor.

“He gave me all the reasons why I would probably not want to try it because there are no trials, there’s no testing, it was not something that was approved,” Giardinieri explained.

But after explaining that he didn’t have much time left, Giardinieri said the doctor approved the drug for him and a nurse administered it 30 minutes later.

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Just an hour after being placed on the medication by IV, he said his body reacted strongly, and by morning, he had no symptoms.

Giardinieri said he has since been issued several more doses and doctors hope to release him once the illness has left his system and he can no longer infect others.

“To me, there was no doubt in mind that I wouldn’t make it until morning,” Giardinieri said. “So to me the drug saved my life.”

So should these supposed “wonder” drugs or combinations thereof be issued to the general public to fight COVID-19? In short, it’s complicated.

Matthew Herper writing for STAT breaks down the responses favored by President Donald Trump and the medical team around him.

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“In an emergency, like the exploding pandemic of the coronavirus that causes Covid-19,” Herper asked, “how much data should doctors require before they use a medicine?”

“[A French] study doesn’t show that patients lived longer or were more likely to recover, but instead shows that the amount of virus in the blood was reduced much faster in the patients who took hydroxychloroquine and even faster in the six patients who took the combination of hydroxychloroquine and azithromycin,” Herper wrote.

“That result is encouraging, but for patients who are not gravely ill, it doesn’t tell how to weigh the side effects of hydroxychloroquine against the potential benefits.”

Obviously, no healer wants to prescribe cures that will make already suffering patients sicker.

For patients that are on death’s door, it could make sense to offer them the option of using these drugs that have not been fully vetted as cures for COVID-19.

But it also makes sense for doctors to give patients with moderate symptoms the choice to take the drug and become part of a voluntary force to more quickly determine patient outcomes.

If this fight against the virus really is a war, a battlefield mindset could be better suited than a boardroom one.

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via The Western Journal

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The ‘New’ Federal Reserve As Garbage Can For All Capitalist Debt

The ‘New’ Federal Reserve As Garbage Can For All Capitalist Debt

Authored by Jack Rasmus via Counterpunch.org,

Yesterday, the Federal Reserve crossed its latest liquidity free money Rubicon. It announced it will provide unlimited credit–and assume the bad debts, not just of banks, shadow banks, and wealthy investors but for what it called ‘Main St.’

But by ‘Main St.’ it doesn’t mean consumers or households. It means that virtually any capitalist financial enterprise that has bad debt it can now dump it on the Fed.

In their announcement of its latest ‘lending facility’, as it is called, the Fed declared it would ‘support’ small business loans, student loans, auto securitized loans, and credit card debt. But that does not mean the Fed will ‘support’ consumers and assume their loans.

Oh no!

It means it will support the financial lenders making such loans for students, auto purchases, credit cards and small businesses.

It means these lenders can now dump their bad, defaulted, or otherwise non-performing debt from credit cards, auto loans, student or small business loans on the Fed. The Fed will eat it for them, and add it to the Fed’s own $4 trillion plus indebted balance sheet–soon to rise to $8 trillion or more.

I propose therefore we erect a new Statue of Money Capital on the steps in front of the Federal Reserve building in Washington D.C. A companion to the Statue of Liberty in the New York harbor. And on it we should inscribe the following motto:

“Give me your busted financial speculators, your bankrupt businesses, your huddled hedge funds yearning for guaranteed high yield. The wretched of your banking system. Send me your former millionaires with now empty accounts and I will make them whole again. I lift my greenback lamp beside my free money door. Come in and get what you want!”

What are markets for at all if The Fed now backstops everthing?


Tyler Durden

Tue, 03/24/2020 – 14:55

via ZeroHedge News

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